Sell And Rent Back As Crunch Hits Middle Class Earners

Sell to rent back schemes are very much considered to be aimed at lower income families who are facing property repossession risks

. Even though it is true that those on low incomes have been proven to be hardest hit by the credit crunch, pushing many people into unavoidable debt, sell house to rent back schemes are not just aimed at those on the bottom of the pay scale.

Sell And Rent Back Your Property Schemes Cross Class Boundaries

Property investment is all about scale and obviously the bigger the salary the more likely the larger the mortgage will be. Home prices have been so drastically over inflated over the last decade or two that even those people on high wages have had to mortgage themselves to the hilt to nab the real house of their dreams. Also as credit crunch tightens its grip, many of those considered rich and more and more middle class property owners have to consider sell house to rent back schemes or quick home sale options to stave off debilitating debt.

Sell Your Property And Rent It Back As Credit Crunch Hits Cozy Classes

According to the news, homeowners in UK are beginning to feel the pinch of the credit crunch. Selling and renting back schemes would have never have been essential for most high income earners, but the problem is based in the over-inflated property market. So those home buyers who over borrowed or purchased properties based on up to 5 times their annual salary are now facing financial difficulties as salaries aren't rising to match the rising cost of living. And people with higher wages tend to have higher monthly outgoings that are just as dangerous as those on lower wages which could lead to more middle classes turning to sell and rent back schemes as the only way out to cope with their debt.

Sell Your Property And Rent It Back As Buyers Run Dry

According to the Telegraph, real estate agents are reporting that big houses owned by people on big wages are being forced to sell up. And as home buyers are few and far between, for some a quick house sale or sell rent back house scheme is the only speedy way out of the escalating financial nightmare of debt. Upmarket Savills estate agent told the Telegraph that they believe a quarter of all properties on the housing market will be up for sale as a result of the credit crunch. For some people, downsizing is the aim - those with high income but a restricted budget due to expenses like on-going school fees.

The Telegraph quoted one couple who had to sell their property, a country house in Devon, because the house now required capital to keep it going - extra money it didn't need when they initially bought the house. Finding a property buyer isn't easy in today's economic climate, and for some a sell to rent back scheme could be the answer they are searching for.

by: Billy Moore

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